Blockchainophil

Blockchainophil

Too long didn't read hah? Just read below! As you can see on the chart, Bitcoin has broken down the channel (regression channel) and then had a pull back to it's moving average (34 EMA), now the bear set up is likely and we are looking for another drop. stay put! If you like to see more of my posts, please care enough to like it ;)

Blockchainophil

Just a quick update on bitcoin. Bitcoin has touched one of it's Fibonacci main levels.(61.8% retracement) as show in the chart with red line. It is probable for this level to act as a resistance and cause the price to have a pull back. BINANCE:BTCUSDT Please give a thumbs up if you like the idea.

Blockchainophil

Let's get to the point quickly ;) I suppose every bitcoin hodler is amazed by the recent price rally of bitcoin. In order to get a valid signal, we need to see the price form a bottom. But how should we know the price has gone down just enough? Analyzing the fundamentals is important to answering that. The idea is; after a rally market gets imbalanced. Therefore...

Blockchainophil Updated 

BINANCE:BTCUSDT Hello Bitcoin lovers! As told before, 58000 levels acts as a major resistance level, holding the price from breaking out higher. Even when the price succeeds to breakout higher, it's doomed to go down the level again.. :( Ok, enough of the fairytales, as you see in the chart bitcoin price has recently reacted to its major resistance ( which is the...

Blockchainophil Updated 

Hey there, crypto lovers! As we see on the BTC/USDT chart, There's been two false breakouts so far. (eg. price breaking out out of a trend and going back inside the trend.) While false breakouts are many traders' nightmares, yet no fear, my dear! because the good news is, that the more a trend's limit is tested and penetrated by the price, the weaker it gets. Yet...

Blockchainophil Updated 

How are you doing with the bitcoin correction so far? As predicted after the price reacted to the 1.6 Fibonacci resistance, continued going down for a while. Yet every night no matter how dark, is threatened by the morning light! In past hours bitcoin bulls managed to pullback the price to the regression channel's edges (as shown in the chart). So now what? Is the...

Blockchainophil

In Bitcoin we trust ;) But corrections are in the nature of any market which helps its healthy growth. Now in Btc/usdt there is an extreme gap between institutional vs individual net profit. Which is scary because historically market tends to correct those gaps. There are also two price bearish breakouts in two major fundamental indicators as shown in the...

Blockchainophil

The red dotted line above is bitcoin's biggest Fibonacci extension 1.6 line. Price has been swirling up and down around that level for weeks now. and finally it reacted to it as a resistance. That's just dangerous!

Blockchainophil

In bitcoin we trust! Though we've been in correction for a while, it is essential for a healthy trend. What I did was basically plotting the regression channel of each minor trend. Then by casting the minor uptrend's regression channel (shown in the chart as a wave B), we get a nice short prediction pattern which also fits to the support and resistance levels.